Bank Of England Suffers Stunning Failure On Second Day Of QE: "Goodness Knows What Happens Next Week"
However, earlier today, when the BOE tried to purchase another £1.17 billion in bonds, this time with a maturity monger than 15 years, something stunning happened: it suffered an unexpected failure which has rarely if ever happened in central bank history: only £1.118 billion worth of sellers showed up, meaning that the BOE's second open market operation was uncovered by a ratio of 0.96. Simply stated, the Bank of England encountered an offerless market.
Bank Of England Suffers Stunning Failure On Second Day Of QE: "Goodness Knows What Happens Next Week" | Zero Hedge